Outlook Business – December 2025
Summary
Rs.100 buys Outlook Business December 2025 — the Special Issue headlined "The Outliers" featuring Habil Khorakiwala of Wockhardt on the cover. Ten contrarians of India Inc at page 50. The Bharat ChangeMakers package profiles over 80 industry leaders from Anand Mahindra to Falguni Nayar. Neeraj Thakur's editor's note sets the theme as "Odyssey of Courage."
The Outliers package (p.50) profiles Habil Khorakiwala and nine other contrarians who took unconventional paths. The Bharat ChangeMakers supplement profiles leaders across sectors: Suraj Teja of Sow & Reap Climatech, Anand Mahindra of Mahindra Group, Narayana Murthy of Infosys, Dr Naresh Trehan in cardiac care, Falguni Nayar of Nykaa and many others. The issue is designed as a year-end celebration of risk-takers and institution-builders.
Regular sections include Editor's Note, Contents, From Founder's Desk and the ChangeMakers directory. The editor's note "Odyssey of Courage" frames the theme around betting against the consensus.
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Content Guide
▸ Cover Story — The Outliers
p.50 · Habil Khorakiwala and Other Contrarians of India Inc
Profile of the Wockhardt founder and chairman, alongside nine other business leaders who built their success by defying conventional wisdom. Khorakiwala's story covers Wockhardt's biotech pivot and his long-term approach to pharmaceutical R&D. Use the contrarian-investing framework in this article to stress-test your own portfolio against consensus assumptions.
▸ Bharat ChangeMakers
Selected profiles from the ChangeMakers package:
Anand Mahindra — Mahindra Group
The Mahindra Group chairman on building a conglomerate for the 21st century, covering the EV transition, aerospace entry and sustainability commitments.
Narayana Murthy — Infosys
Perspective on institution-building, values-driven leadership and the importance of long-term thinking beyond quarterly results.
Falguni Nayar — Nykaa
Nykaa's founder on building India's leading beauty e-commerce platform, the transition from offline to online retail and the importance of customer data.
Dr Naresh Trehan — Cardiac Care
The renowned cardiac surgeon on building Medanta and the business of healthcare delivery in India. Covers the intersection of clinical excellence and operational efficiency.
Suraj Teja — Sow & Reap Climatech
Profile of a climate-tech start-up addressing agricultural sustainability through technology. Covers the business model and growth metrics.
▸ Regulars
Editor's Note — Odyssey of Courage
Neeraj Thakur on why the issue celebrates contrarians and the importance of betting against consensus for India's development.
From Founder's Desk
Short essays from founders and business leaders on lessons learned.
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Editor's Take
The December 2025 Special Issue is Outlook Business at its most aspirational — a year-end celebration of business leaders who bet against the consensus and won. The Habil Khorakiwala profile is well-deserved and provides a genuine pharmaceutical industry case study. The ChangeMakers directory is enormous (over 80 entries) but the format — one or two paragraphs per leader — means most profiles are too short to deliver real insight. At 38 numbered entries plus additional pages, the ChangeMakers section feels like a recognition list rather than journalism. The Outliers package (10 profiles) is the stronger half. This issue is a good corporate gift or coffee-table read; serious investors will find more depth in the regular monthly issues.
Strengths
• Khorakiwala and Outliers package profiles genuinely contrarian stories
• Year-end format provides a useful overview of India Inc's influential leaders
• Editor's note frames the theme with conviction
Weaknesses
• ChangeMakers 80-plus profiles are too short to deliver substance
• The issue lacks the investigative reporting of regular Outlook Business issues
Verdict: Selective read — A well-intentioned year-end special but more recognition list than journalism in the ChangeMakers section.
